India: Thermal coal port stocks edge down w-o-w in week 37, 2024

• Adani's stocks decline 7.98% w-o-w, Agarwal Coal's falls 9.49%
  
  
• Paradip Port's stocks up 29.57% w-o-w, Dhamra Port's rises 15.01%
  
  

Non-coking or thermal coal stocks at Indian ports dipped 2.05% w-o-w to 13.10 million tonnes (mnt) in week 37 of CY'24 from 13.37 mnt in week 36, as per data compiled by BigMint.

Company-wise break-up

Stocks held by Adani Enterprises saw a 7.98% w-o-w drop to 3.88 mnt from 4.22 mnt in week 36. Similarly, Agarwal Coal's stocks fell by 9.49% w-o-w to 1.07 mnt in week 37 from 1.18 mnt in week 36.

Port-wise break-up

Paradip Port witnessed a notable w-o-w rise of 29.57% to 1.49 mnt in week 37 from 1.15 mnt in the previous week. Dhamra Port also experienced a 15.01% w-o-w increase to 1 mnt.

Market overview: BigMint's assessment indicates that portside prices of South African thermal coal remained under pressure this week, dropping by INR 50-200/tonne (t) w-o-w. RB2 (5500 GAR) and RB3 (4800 GAR) prices were assessed at INR 9,400/t and INR 7,600/t ex-Gangavaram, respectively. Weak steel demand has kept buying subdued. Additionally, the ongoing monsoon, along with transportation hindrances, has delayed the delivery of material to plants and, as a result, has reduced procurement demand.